I'm sorry I got distracted and didn't check this thread sooner...I am learning a lot from PT! Thanks guys!!!

Let me post this one problem and I promise I'll leave everyone alone and try to learn it myself. Maybe an explanation of one will help with the rest...

Chapter is about current liabilities....

Builders Supply issues a 90-day note for $200,000 to Gem Lighting Co. for merchandise inventory. Gem Lighting Co discounts the note at 8%

a. Journalize Builder's Supply's entries to record:
1. the issuance of the note
2. the payment of the note at maturity
b. Journalize Gem Lightning Co's entries to record:
1. the receipt of the note
2. the receipt fo the payment of the note at maturity